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Arsenal were the only Premier League club most interested in Real Madrid forward Rodrygo, despite closing in on Chelsea’s Noni Madueke.
However, Liverpool have also joined the race for his signing.
The Reds see the 24-year-old as a possible replacement for Luis Diaz.
Diaz is attracting interest from Bayern Munich who saw their opening offer worth €67.5million (£58.6m) rejected on Tuesday by the Premier League champions.
Liverpool value Diaz in excess of £87m as a key member of Arne Slot’s squad after helping them win the Premier League title last season.
The 28-year-old, whose contract expires in the summer of 2027, scored 17 goals for the Reds in all competitions.
Diaz attracted interest from Manchester City last summer, and also has admirers in Saudi Arabia.
The Colombia international has made it clear to the club he wants to leave this summer.
Diaz had earlier hinted that he was happy at Liverpool despite the ongoing speculation.
He told Colombian influencer Mauricio Gomez: “We’re there, negotiating.
We’ll see what can be achieved, for us and for the club.
We’ll try to do our best and make the best decision.”
He added: “We’re in the process of negotiations, talking with the club, with Liverpool, with everyone who’s approaching us.
But I’m very calm where I am, you know, very happy?
Trying to make the best decision now.”
With Diaz’s future uncertain, Liverpool are in the market for a new wide player, and Rodrygo is on their shortlist.
However, Liverpool will face stiff competition from Bayern Munich.
According to Eduardo Burgos of Diario AS, Bayern are monitoring Rodrygo’s situation and would be willing to make a huge offer for the versatile forward if they miss out on Diaz.
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